Resource tradeoffs are exchanges between resources, such as money, time, and energy.

Most people trade significant amounts of their time for money on a daily basis (e.g., working to earn income), and conversely money can be spent to free one's time (e.g., paying someone else to spend their time on a task). To make effective time-money tradeoffs, it's important to be able to estimate the value of a marginal hour of one's time.

Further reading

Bye, Lynette (2019) How much is your time worth?, LessWrong, September 2. 

Cotton-Barratt, Owen (2015) Neutral hours: a tool for valuing time and energy, Global Priorities Project, March.